Acquirer Completes Purchase of 70% Stake in SMC ELECTRIC
Stock News
Sep 08
SMC ELECTRIC (02381) and offeror Sing Siu Holdings Limited have jointly announced that the offeror completed the acquisition of 1.4 billion shares in the company on September 8, 2026, representing 70% of the total issued share capital as of the date of this joint announcement, for a total consideration of HK$154 million, equivalent to HK$0.11 per sale share.
CLSA will act on behalf of the offeror in making a mandatory general offer under Rule 26.1 of the Takeovers Code, at an offer price of HK$0.11 cash per offer share, which is identical to the consideration paid for each sale share.
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